ADVANCE INFORMATION ON SUOMINEN´S RESULT FOR 2010
Suominen´s net sales for 2010 was EUR 173 million (179), out of which the net sales of Flexibles business area was EUR 66 million (67) and the net sales of Wiping business area EUR 108 million (113). Operating loss before impairment losses on goodwill amd non-recurring costs was EUR 3.8 million ( + 7.3) and operating profit in both business areas was negative. Furthermore, impairment charges against goodwill, EUR 4.9 million, and non-recurring costs related to rationalization of business operations , EUR 2.2 million (0.6), are recorded in the operating result of the Group. Profit after financial items was EUR -15.7 million (+1.0). The figures are preliminary.
In connection with previous interim report, net sales for 2010 was estimated to be lower than in 2009. Due to decrease in sales volumes, decline of margins and possible non-recurring costs, the operating profit for 2010 was expected to be negative.
Helsinki, 21st January 2011
SUOMINEN CORPORATION
Petri Rolig
President and CEO
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